Myanmar’s rice export expected to decline

Myanmar’s rice export expected to decline
a workshop on the export promotion in Myanmar Rice Sector is held at Park Royal Hotel.
a workshop on the export promotion in Myanmar Rice Sector is held at Park Royal Hotel.
Published 19 January 2019

Due to China’s low demand and the EU’s withdrawal of GSP, Myanmar’s rice export is expected to decline during this fiscal year, according to a workshop on the export promotion in Myanmar Rice Sector at Park Royal Hotel in Yangon on January 18.

Aung Than Oo, vice-President of Myanmar Rice Federation said: “The sure point is this year, rice export volume don’t meet last year’s scale. Not only the local market but also the global market sees a decline in rice demand.”

Chinese merchants reduce buying rice from Myanmar due to the intensified crackdown in China. Rice export to China has declined by around half this year.

In addition, the EU will recollect tax on above 16-mm-long rice from Myanmar starting January 18. Myanmar’s rice export to the EU will decline to a certain degree.

Nay Lin Zin, secretary of Myanmar Rice Millers Association said: “Due to a decline in rice exports to the foreign market, the rice market may face difficulties in the coming summer paddy harvest season. It may have impacts on the rice market more or less. It will hit at least 50 per cent of the market.”

Myanmar exports rice to the EU member countries and African countries via sea route and to China via Muse 105th mile border trade camp.

Thanks to the expansion of rice market in 2017-2018 fiscal year, the total rice export hit nearly 3.6 million tons, a record-breaking in over 50 years.

From April to December, 2018, the country earned about USD 578.087 million from rice and broken exports of 1.717 million tons. The country earned USD 789.780 million from exports of 2.542 million tons in the same period last year, according to the figures from the MRF.

During nine months, the rice export earnings declined by USD 210.975 million.